James Cook:

Sources close to Apple say the company is privately trialling an MVNO service in the US but is also in talks with telecoms companies in Europe about bringing the service there too. […]

There is no guarantee Apple’s service will launch beyond a test phase, and if it does, it will not roll out anytime soon. Telecoms sources say Apple is looking long-term with its MVNO and could take at least five years to fully launch the service. Apple has been in talks with telecoms companies for years over its MVNO plans, those sources say, adding that it’s an “open secret” among carriers that a virtual Apple network is on the way.

One of the biggest pain-points for iPhone customers is in the interaction with cellular carriers. If Apple launched an MVNO they’d be controlling the entire experience and giving their customers a way to use Apple’s flagship products without having to deal with some of the worst offenders in terms of customer service.

Update: Looks like this rumor’s already dead.